17 November 2018
Big news for the TV Industry stakeholders as DEN, Hathway shareholders approve stake acquisition by Reliance

After Reliance Industries Limited gave its go ahead to acquire controlling stakes in DEN Networks and Hathway Cable and Datacom as part of its plan to launch JioGigaFiber in 50 million homes, the Mukesh Ambani-led company have pledged in Rs 5,230 crore to take control of the two companies.

The Boards of DEN and Hathway have now approved the allotments of 28, 14, 48, 000 equity shares of face value Rs 10 each ay an issue price of Rs. 72.66 and allotment of 90, 88, 10, 000 equity shares of face value Rs 2 each of the company at an issue price of Rs 32.35 per equity  share on preferential basis.

The present approvals by the two of the largest multi system operators is set to take the entire TV industry by storm in the coming weeks.